Ahmed Antar, head of the Egyptian Commercial Service (ECA), announced that the trade exchange between Egypt and India witnessed remarkable development during 2017, explaining that the total trade exchange between the two countries reached about $3.5bn in 2017, an increase of 13.5% compared to 2016.
The announcement came during the work of the Sub-Committee on Trade and Economic Cooperation between Egypt and India, which was held as part of the seventh session of the Egyptian-Indian Joint Ministerial Committee held in Delhi.
Antar added that the value of Egyptian exports to India amounted to $1.2bn, an increase of 15.5% compared to 2016, while the value of Egyptian imports from India in 2017 was about $2.3bn, an increase of 12.49% compared to 2016.
He pointed out that the most important Egyptian exports to India include phosphate rocks of all kinds, petroleum gas, raw cotton, glass products, and oranges.
Meanwhile, Egyptian imports from India include buffalo meat, yarn, polycarbonate, polyethylene, motor cars, and auto parts.
Finally, Antar stressed that recently, relations witnessed remarkable development in terms of trade exchange and joint investments between the two sides, especially after the visit of Egyptian President Abdel Fattah Al-Sisi to India in 2016.
He explained that this visit contributed to attracting a number of the largest Indian companies to invest in Egypt, along with the integrated strategy that was launched by the Ministry of Trade and Industry to promote industrial development and foreign trade, which laid out a clear vision for the development of the system of trade and industry in Egypt until 2020.